The best Visa Signature cash rewards card is the Capital One Quicksilver Cash Rewards Credit Card. This card offers unlimited 1.5% cash back on all purchases and has a $0 annual fee and $0 foreign transaction fees. It also comes with a signup bonus of $200 once you spend $500 in the first 3 months.
Just bear in mind that the Capital One Quicksilver Cash Rewards Credit Card isn’t always a Visa Signature card. If you’re assigned a lower credit limit, you’ll get the Visa Platinum version. Good thing there are plenty of other good offers to consider, too. Visa Signature cash rewards cards have some of the best cash back deals on the market. They also come with excellent benefits like rental car insurance, return protection, and concierge services. But some offers do go above and beyond.
U.S. Bank Cash+™ Visa Signature® Card: Earn 5% cash back on 2 categories (up to $2,000 spent) and 2% back on 1 category that you get to select each quarter. Cardholders also earn 1% cash back on all other purchases, and a signup bonus of $200 after spending $1,000 in the first 120 days.
Chase Freedom Unlimited®: Earn 5% cash back on grocery store purchases for the first year (up to $12,000 spent), 5% cash back on travel through Chase, 3% cash back at restaurants and drugstores, and 1.5% back on all other purchases. Plus, you get a $200 after you spend $500 in the first 3 months.
The best Visa Signature cash rewards cards offer some of the highest cash back rates available. Many also have no annual fees or foreign transaction fees, and you can get hundreds of dollars in signup bonuses once you meet a minimum spend.
Plenty of credit cards give bonus cash back rewards in certain purchase categories. Cardholders may receive extra value on gas, groceries, dining, entertainment, wholesale clubs and more. Other cards have bonus categories that change every quarter and may require activation, giving you the chance to earn big on different types of purchases every few months.… read full answer
Lots of credit cards with cash back bonus rewards on purchases also offer an initial cash rewards bonus for spending a certain amount in the first few months. Plus, it’s good to remember that many credit cards without cash back bonus rates still give a solid cash back rate on all purchases.
The difference between cash back and points is that the former is the most versatile type of credit card rewards, as it can be redeemed for anything, and there’s never any doubt about how much it’s worth. Points, on the other hand, have a value set by the credit card company and tend to be worth the most when redeemed for travel. Credit card companies won’t always clearly disclose points values, and those values can change over time. It’s possible that points could be worth 1 cent apiece one day and 0.8 cents each the next.… read full answer
You can spend points for many different things. Usually, you can trade them for travel, gift cards, unique experiences, charitable donations or even cash. There are no restrictions on what you can use cash for. You can typically redeem cash back for a statement credit, paper check, or direct deposit to a bank account. One thing credit card shoppers should watch out for are cards advertised as offering cash back that really provide points. For example, the Chase Freedom Flex℠ offers “5% cash back” in certain bonus categories. But what it actually gives is 5 Chase Ultimate Rewards points per $1, which cardholders can then trade for cash back at a rate of 1 cent each.
Earning rate: Usually at least 1% cash back or 1 point per $1 spent.
Devaluation: Points can be devalued by the issuer, while cash back can’t.
Redemption options: Statement credit, check or deposit for cash. Travel, merchandise, gift cards, cash and more for points.
When it’s the best choice: Points for frequent travelers. Cash back for everyone else.
Let’s take a look at two high-profile cards in a battle of cash back vs. points.
Citi Double Cash Card tops the cash back offerings with 2% cash back on all purchases and an introductory APR of 0% for 18 months on balance transfers, with a 3% (min $5) balance transfer fee. It also chases a $0 annual fee and requires good credit to get.
But if you’re a frequent traveler, Chase Sapphire Preferred is a more attractive option. It gives 5 points per $1 spent on travel purchased through Chase, 2 points per $1 on all other travel purchases, 3 points per $1 on dining and online grocery purchases, 3 points per $1 on select streaming services, and 1 point per $1 on all other purchases. It has an initial bonus of 60,000 points for spending $4,000 in the first 3 months. This card’s points are worth 1 cent each toward cash back or gift cards or 1.25 cents each toward travel. There’s a $95 annual fee and the card requires good credit.
For both cash back and points cards, you can expect to lose your rewards if your account closes for any reason. Most cards don’t let your rewards expire over time. But Citi Double Cash Card’s cash back expires if you don’t use your card for 12 months. And on points cards alone, your points can be devalued if the issuer decides to charge more points for its rewards. So, frequent redemption is essential.
So, the bottom line is that frequent travelers should check out points cards. Otherwise, cash is king.
To maximize credit card rewards, keep it simple. Choose the right card by sticking with rewards you know you will use. Understand the terms your rewards program. Spread expenses across best rewards cards. And above all else, pay your balance in full every month.
The purpose of a rewards credit card is to get the most out of the benefits the card offers. Otherwise, it’s just a regular credit card; and not a cost-effective credit card, to boot. Many of … read full answerthe best rewards cards on the market often come with an annual fee to help cover the cost of the rewards – rewards you may not be taking full advantage of. So rather than throwing away money on your rewards card, follow a few simple steps, and let your rewards card pay you for responsible usage.
Know the card’s rewards terms. Make sure any spending requirements for sign up bonuses are attainable. Familiarize yourself with the card’s redemption rates. Rewards come in three main currencies: cash back, points, and miles. While cash back rewards are straightforward as they consist of a dollar-value percentage of your purchases, miles and points are more diverse. Credit card points can be either hotel points or generic ones that can be redeemable towards various products and services. And miles are either tied to a specific airline or they’re generic miles that can be used for broader travel experiences. Common ways of redeeming rewards include statement credits, checks, gift cards, merchandise, charity and more. Rewards points and miles are often worth less when redeemed for one category over another.
Use multiple cards to get the best rewards. This is known as the Island Approach. If you have a card that earns 5 points on gas purchases, make that your gas-only card. If your airline card has a minimum spending requirement for 50,000 bonus points, put all of your expenses on that card.
Pay your balance in full. When you keep a balance on a rewards card, interest charges may cancel out any rewards earned. If you’re after financing options, check out our editors’ picks for the best low interest credit cards. And avoid any late or missed payments. Not only will a late fee further eat into your rewards, but you could end up forfeiting any rewards earned altogether.
Try redeeming reward miles or points periodically rather than stockpiling them. Rewards generally don’t expire, but in some cases, you could lose points if there’s no activity on your rewards account. And if you close your account, you will lose all of your earned rewards.
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